As many as 369 infrastructure projects of the total 1,420 under implementation are facing cost overruns, while another 366 are significantly delayed, according to a report.
The report "Infrastructure & Real Estate: A fulcrum for Change & Economic Growth" by Property consultant ANAROCK and Association of Infrastructure Industry (India) said the government should accord high priority to the infra sector.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
It said India's vision to enter the $5 trillion club economy by 2025 depends on development of infrastructure and real estate that contribute 29.5 percent to the GDP.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
"The sheer impact of challenges faced by the infrastructure projects is visible from these statistics—of the total 1,420 projects under implementation, 369 projects are facing time overruns to the tune of Rs 3.38 lakh crore of cost overrun and an average time of 46 months for 366 delayed projects," the report said.
To expedite infrastructure development along with maintaining the ecological and political balance, the government must give high importance to addressing the challenges, it said.
"If negligence towards such factors is continued the sector which is expected to fuel the overall economic growth of the country and generate employment opportunities will lose its shine which will thereby hamper the economic growth of the country," it said.
The report said infrastructure and real estate sector's contribution to India's GDP is the highest at 29.5 percent compared to 22.6 percent in the U.S. and 17.6 percent in China.
It said higher contribution from infrastructure and real estate is fuelling India's economic growth and helping the nation to evolve as a dominant country.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
